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<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> today posted 33% increase in its third quarter net profit to ₹1,309 crore. </li><li>Its net interest income too went up by 34% to ₹3,074 crore from ₹2,288 crore in the comparable quarter. </li><li>The fee income of this bank which has been banking heavily on its retail business, also went up by 22%. </li><li>Its deposits and advances too went up by a robust 22% on an annual comparison.</li></ul>Hindujas owned IndusInd Bank today posted 33% increase in its third quarter net profit to ₹1,309 crore from ₹985 crore in the same quarter last year. Its net interest income or revenues too went up by 34% to ₹3,074 crore from ₹2,288 crore in the comparable quarter. The fee income of this bank which has been banking heavily on its retail business, also went up by 22%. Its deposits and advances too went up by a robust 22% on an annual comparison. “During Q3 FY-20, the Bank witnessed a healthy growth in its topline as well as in operating profits. The Bank also reached a milestone as the Balance Sheet footage crossed ₹ 3 trillion and the advances crossed the ₹2 trillion-mark. PCR (provisioning coverage ratio) has been increased to 53% to strengthen the balance sheet,” said Romesh Sobti, managing director and CEO, IndusInd Bank said. However, the bank’s stock dropped by 2.9% to ₹1,493 as per BSE data at 3 pm. The bank which acquired Bharat Financial in 2017, is banking on its expanded footprint especially in the rural areas to drive growth going ahead. The acquisition turned effective on July last year, allowing the bank to derive full benefits of acquiring the shadow bank. A research note by Nomura says that the acquisition is a moat for the bank. “The asset side franchise has strengthened with BHAFIN, and IIB will undergo a full-fledged extension of the pilots that management believes will enable it to use Bharat Financial’s reach to create a rural touchpoint network that provides significant cross sell opportunity and also improve efficiency in a manpower-intensive MFI business,” said Nomura. The research note also believes that asset side strengths of the bank will be able to offset weaknesses in liabilities. “Bulkiness in liabilities and fees, apart from recent corporate asset quality issues, has been IIB's key weakness. While it is easier said than done, if the bank delivers well on granularizing its liabilities and successfully monetizing rural distribution via BHAFIN, it should drive a sustainable re-rating, in our view,” the note said.

IndusInd Bank stock falls 3.9% as its net profit grows by 33%

<ul><li>This is another case of a marquee private bank in India falling from grace amidst rising bad loans. </li><li>IndusInd Bank slumped over 7% after UBS downgraded stock to ‘Sell’ </li><li>The global investment bank said the credit risks are higher than expectations.</li></ul> The shares of IndusInd Bank slipped by over 7% at one point on Thursday after global investment bank UBS downgraded its stock to ‘sell’ and said that the credit risks may be more than twice as high compared to the company’s guidance. “The downside risk to IndusInd Bank’s earnings exists as believe credit costs could be higher at 150 basis points as compared to the company’s guidance of 65 basis points in 2019-20,” UBS said in its report on June 12. Business Insider <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">reported on May 31</a> that IndusInd Bank had made the same mistake as many other Indian banks trying to downplay the worst of its problems. What’s worse, according to UBS, there could be surprises. “Retail deposits, as a percentage of external liabilities for IndusInd is the lowest among banks in our coverage, at around 20%, which is a structural issue, in our view, and often manifests in credit quality surprises,” UBS said. Simply put, when compared to its peers, the bank has far fewer individual deposits to make up for any more loans that may turn sour in the days to come. The stock which is trading at a price close to its 52-week lows after the recent quarterly earnings showed that the bank’s net profit fell 62% to ₹3.6 billion. Moreover, the bank made a provision of ₹12.7 billion against its loan to the troubled infrastructure lender IL&amp;FS. A provision is the amount of money a bank sets aside to cover a loan which is unrecoverable. Not only did this amount come<a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms"> in too late</a>, but it also is not enough to cover its exposure to IL&amp;FS which turned insolvent last year. The bank had been changing goal posts of its extent of exposure almost every quarter since the crisis unfolded. “They should have told us (analysts) from day one about the provision, and not have guided lower numbers to us,” says Hemindra Hazari, an independent capital markets. He wrote a report on the bank titled ‘ Sell-Side Analysts’ Blind Faith in IndusInd Bank Need Not Blind Investors’. SEE ALSO <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms">An Indian bank is still making the same mistake of hiding the worst and hoping for the best</a>

Investors lose over $600 million in a day in one stock as the management was more optimistic than cautious

<ul><li>The share price of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> is up by 10% during mid-morning trade. </li><li>Even though the private sector bank reported a 16% drop in profit, its customers have been paying off their loans despite the option of a moratorium. </li><li>In the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. </li></ul><keyword id="6265775" type="COMPANY" weightage="20" keywordseo="IndusInd-Bank-share-price">IndusInd Bank share price</keyword> has skyrocketed by 10% after the private sector bank disclosed its earnings on Monday, April 27 — which missed their mark when it comes to profit. Even though profit took a hit and fell by 16%, the bank reported that its deposits have stabilised during the earnings call. <div type="image" title="indusindbank" msid="75425253" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd Bank&amp;#39;s share price increases by 10% in mid-morning trade on April 28&amp;lt;/p&amp;gt;"></div> IndusInd Bank’s provisioning for bad loans was 56.3% higher in the March quarter than a year ago with mostly corporate loans that facing the risk of default. Its net interest margins (NIMs) have increased and most of its customers aren’t deferring payments despite the option of the moratorium, according to the company. “Stabilisation in liability profile and improvement in asset quality are critical parameters expected to drive performance of IIB’s stock price in the post-COVID scenario,” said a report by research analysts at JM Financial Institutional Securities. Yet, the surge the share price does not match up to the previous increase which happened after <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought up 4.1 million</a> of the bank’s shares worth ₹176 crore on April 15. The disclosure led the share price to zoom up to ₹474.7 on April 17. What made the share price jump? The Reserve Bank of India (RBI) has given people the option to defer payments on their loans, but according to IndusInd Bank — its customers aren’t going down that route. During the conference call, the bank said it received 96% of non-vehicle portfolio repayments and 95% of repayments of its vehicle portfolio in March. Even in the micro-finance portfolio, the lender received 99% of repayments. Going forward, the bank expects retail to account for 60% and corporate to account for 40% of its balance sheet by the end of the next financial year. “Bank’s strategy has shifted towards ‘Retailisation of Balance Sheet’ with focus on improving retail deposit franchisee, increase the contribution of non-vehicle retail loans, and increase the proportion of microfinance business,” according to Philip Capital. However, in the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought IndusInd shares after the stock price nearly doubled in 13 trading sessions</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-q4-net-profit-down-16-pc-at-rs-301-74-cr/articleshow/75408390.cms">IndusInd Bank Q4 net profit down 16 pc at Rs 301.74 cr</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-shares-zoom-nearly-14-pc-after-q4-earnings/articleshow/75422017.cms">IndusInd Bank shares zoom nearly 14 pc after Q4 earnings</a>

IndusInd Bank shares skyrocket by 10% as its customers choose not to defer paying off loans

New Delhi, Apr 27 () IndusInd Bank on Monday reported a 16 per cent decline in its standalone net profit at Rs 301.74 crore for the quarter ended March 2020, on higher provisioning. The bank had posted a net profit of Rs 360.10 crore during the corresponding January-March quarter of financial year 2018-19. Total income (standalone) during March quarter of 2019-20, however, rose to Rs 9,158.57 crore as against Rs 7,550.43 crore in the same period of the preceding fiscal year, the private sector bank said in a regulatory filing. The lender's provisioning for bad loans and contingencies stood at Rs 2,440.32 crore during the quarter, substantially higher from Rs 1,560.69 crore it had parked aside in the year-ago period. On asset front, the gross non performing assets assets (NPAs) stood higher at 2.45 per cent of the gross advances as on March 31, 2020 as compared with 2.10 per cent a year ago. Net NPAs or bad loans were, however, lower at 0.91 per cent as against 1.21 per cent. IndusInd Bank said that during the quarter ended December 31, 2019, it recognized exposure in respect of two entities with an outstanding of Rs 960.89 crore as fraud and provided in full, in accordance with the RBI norms, by debiting Rs 240.22 crores to profit and loss (P&amp;L) account and Rs 720.67 crore to balance in P&amp;L account under 'Reserves and Surplus'. "In accordance with the RBI... the Bank has charged to the Profit and Loss account an amount of Rs 240.22 crore during the quarter ended March 31, 2020 and a total amount of Rs 480.44 crore during the year ended March 31, 2020," it said. The balance amount will be reversed to P&amp;L account in the ensuing quarters in the financial year 2020-21, it added. Shares of the bank on Monday closed 6.33 per cent lower at Rs 407.35 apiece on the BSE. KPM RVK

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IndusInd Bank stock falls 3.9% as its net profit grows by 33%

Katya Naidu

Investors lose over $600 million in a day in one stock as the management was more optimistic than cautious

Katya Naidu

IndusInd Bank shares skyrocket by 10% as its customers choose not to defer paying off loans

Prabhjote Gill

IndusInd Bank Q4 net profit down 16 pc at Rs 301.74 cr

PTI

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